The 2008 Great Recession was notable in the UK for three things: the enormity of the output shock; the muted unemployment response; and the very slow rate of recovery. We review the literature which finds most of the decline in productivity is within sector and within firm before presenting new...

Our aim in this paper is, first, to derive a model capable of explaining the stylized fact that fluctuations in labor market activities over the business cycle are primarily accommodated by changes in employment rather than in wages and, secondly, to test this model empirically. The model is...

This paper assesses the theoretical justifications available for policies of flexible labour markets (FLMs) in reducing the level of unemployment in developed economies. It empirically assesses the OECD's rationalisation of policy linking profitability to investment and job creation in four...

The 2008 Great Recession was notable in the UK for three things: the enormity of the output shock; the muted unemployment response; and the very slow rate of recovery. We review the literature which finds most of the decline in productivity is within sector and within firm before presenting new...

We analyse the economics and epidemiology of different scenarios for a phased restart of the UK economy. Our economic model is designed to address the unique features of the COVID-19 pandemic.Social distancing measures affect both supply and demand, and input-output constraints play a key role...

This paper is about the comparison of the cycle of money including the enforcement savings and without the enforcement saving. Then, it is plausible to extract the appropriate conclusions about the utility of savings in an economy when there the savings return to the market for investments and...